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With festive seasons bringing extra spending on gifts, travel, and celebrations, borrowing against assets can be a practical way to manage costs without taking on expensive short-term loans.
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Breaking an early fixed deposit can cost you returns, but careful planning of the withdrawal can leave you with more of your earnings.
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Senior citizens, post-retirement, prioritise capital protection and regular income flows. So, they often invest in fixed deposits (FDs) for their apparent stability and steady income through interest payments. The interest earned on fixed deposits is taxable, but several senior citizens fall in the lower tax brackets, which ensures that their tax liability is minimal or nil, if other income is negligible. Private banks offer interest rates of up to 8.10 percent to senior citizens on three-year FDs. Here are the top twelve banks offering lucrative interest rates on FDs with tenures of three years. Paisabazaar has compiled the data.
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Online platforms offer the convenience of investing, but the choice may be limited to select fixed deposits. Also, if you want to invest only with larger banks, online platforms may not be an option
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Your fixed deposit with a bank is guaranteed to only Rs 5 lakh per bank, in deposits held across all its branches put together. However corporate FDs with a good credit rating are just as safe but come without the deposit insurance cover and perceived government-backing
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According to tax experts, Public Provident Funds (PPF) and tax-saving Fixed Deposits (FD) are considered favorable choices for both tax-saving and long-term investing, depending on an individual's investment objectives. PPFs provide a variable interest rate determined by the Finance Ministry, while FDs offer a fixed interest rate for a predetermined duration.
It is important for individuals to understand the distinctions between these account types, as they offer tax benefits and opportunities to earn interest on investments. Numerous taxpayers opt for PPFs as a preferred option for long-term goals like retirement, as it provides a stable source of fixed income while also offering tax-saving benefits. Watch here to know more-
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Although HNIs comprehend the advantages of mutual funds over other financial products, past problems in the sector still concern them.
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The sample size of the consumer survey was 5,500, out of which 50 per cent respondents were women.
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As the due date for filing Income Tax Return (ITR) approaches, one could end up making numerous tax filing mistakes. One must be careful while filing returns as any oversight can lead to a penalty or tax notice from the Income Tax Department. Here are some common mistakes to avoid while filing income tax returns by July 31, 2022
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A bank customer is eligible for overdraft facility against its bank FD. This feature of the bank FD helps investor raise fund during financial emergency.
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SBI with the help of Twitter informed its customer about this new kind of cyber fraud where fraudsters are using victim's online FD account to siphon off money.
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This special FD scheme was launched in May 2020 to safeguard the interests of senior citizens as the interest rates were falling rapidly amid the coronavirus pandemic. This scheme is available till March 31.
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Some investors, especially conservative ones, prefer these because FDs are not linked to the market, so there is no volatility involved.
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You can invest a maximum of Rs 1.5 lakh in these FDs
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Debt funds obviously generate extra returns by taking some additional risk
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As a thumb rule, it is advised to keep at least three to six months’ worth of basic living (and non-negotiable) expenses as emergency fund.
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There are 94 FMPs that have invested in Essel Group companies, according to data from Morningstar.
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Speaking to CNBC-TV18 Saurabh Mukherjea of Ambit Capital said that we have been accused of saying a lot of things that are thought of as sensational but facts and subsequent events have borne them out.
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In the long-running Sebi-Sahara case, the Supreme Court in August 2012 had ordered the Lucknow-based conglomerate to deposit with the regulator over Rs 24,000 crore collected from nearly three crore investors through issuance of some bonds.
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Apart from cutting the minimum lending rate, India's largest private sector lender has also cut rates on some retail fixed deposits effective the same date.
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One should not have fixations about asset classes and be prepared to invest in an appropriate basket of securities as per the dictates of the life cycle
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People, who invest in FD, think that it‘s a one time investment and they don‘t need to check it constantly. Unfortunately, that‘s a wrong notion. Since, if you don‘t know, let me tell you, FD returns attract higher taxes.
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The Finance Ministry's decision comes on the eve of the announcement of general elections schedule by the Election Commission. The model code of conduct comes into play after Lok Sabha elections announcement.
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Juzer Gabajiwala of Ventura Securities tries to decipher a better investment alternative among bonds or fixed deposits.
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His row house in Aarey Colony has been attached along with a Pune plot worth more than Rs 1.6 cr. Jignesh Shah's Bank FDs worth Rs 11.57 cr has also been attached. EoW has attached 1.19 lakh shares belonging to him in FTIL worth Rs 1.78 cr at current market price
